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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $4,496 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $30,201 | $52,884-42.9% | $84,753-64.4% | $55,167-45.3% |
| Participation rate | 48.1% | 67.5%-19.4pp | 76.6%-28.5pp | 69.0%-20.9pp |
| Annual return | 6.03% | 18.03%-12.0pp | 22.78%-16.7pp | 169.23%-163.2pp |
| Employer contribution / active EE | $780 | $2,233-65.1% | $3,574-78.2% | $1,963-60.2% |
| Participant deferral / active EE | $1,125 | $2,644-57.4% | $3,712-69.7% | $3,054-63.1% |
| Admin fee / account holder | $62 | $581-89.4% | $5,333-98.8% | $504-87.8% |